BEIJING, July 25 /Xinhua-PRNewswire-FirstCall/ -- China TransInfo Technology Corp., (OTC Bulletin Board: CTFO), ("China TransInfo" or "the Company"), a leading provider of public transportation information systems technology and comprehensive solutions in the People’s Republic of China (“PRC”), today announced that it has received approval to list its common stock on the NASDAQ Capital Market.
China TransInfo expects to start trading on the NASDAQ Capital Market on July 31, 2008, until which time its shares will continue to trade on the Over the Counter Bulletin Board. The trading symbol for China TransInfo’s common stock will remain “CTFO.”
“We are very excited to list on NASDAQ as we consider our upgrade to be a significant milestone for China TransInfo’s development as a US public company,” commented Mr. Shudong Xia, CEO of China TransInfo. “We are confident that NASDAQ will provide a more efficient and reliable platform for our common stock to trade. In completing an upgrade to a senior exchange, we hope to further enlarge our investor base and increase both our liquidity and visibility in the investment community.”
About China TransInfo
China TransInfo, through its subsidiary Beijing PKU ChinaFront High Technology Co., Ltd. (“PKU”), is primarily focused on providing transportation information services. The Company aims to become the largest transportation information product and comprehensive solutions provider, as well as the largest integrated transportation information platform and commuter traffic media platform builder and operator in PRC. China TransInfo is involved in developing multiple applications in transportation, digital city, land and resource filling system based on Geographic Information Systems (“GIS”) technologies which is used to service the public sector. In addition, the Company is also developing its transportation system to include Electronic Toll Collection (“ETC”) technology. The Company is the co-formulator to several transportation technology national standards and has software copyrights to 23 software products. China TransInfo has won 3 of 4 model cases sponsored by the PRC Ministry of Communications. The Company’s affiliation with Peking University, which currently owns 5% of PKU, provides access to the University’s GeoGIS Research Laboratory, including over 30 Ph.D. researchers. As a result, the Company is currently playing a key role in setting the standards for electrified transportation information solutions. For more information please visit the company website at http://www.chinatransinfo.com .
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements". These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
China TransInfo Technology Corp.
Ms. Cathy Zhuang, IR Supervisor
Tel: +86-10-8267-1299 x8032 (Beijing)
Email: cathyzhuang@ctfo.com
CCG Investor Relations Inc.
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgir.com
